According to draft Resolution 55 in Austin, Texas, city councillors approved a fact-finding study plan to investigate the feasibility of paying taxes in bitcoin or other cryptocurrencies in the city of 1 million. The “fact-finding study” is due June 16.
Austin City Manager will study the legality of cryptocurrencies, their potential to benefit public services, economic and environmental impacts, and analyze cryptocurrencies for financial stability and security.
Council member Anna Kitchen said support for the draft does not indicate whether bitcoin payments are a good or bad thing for municipalities, emphasizing that this is a proposal “for analysis, not action.”
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